By Choi Kyong-ae
Citibank Korea Chief Executive Ha Yung-ku said Monday he will seek the job of running the troubled KB Financial Group.
"Last Thursday, I was notified that I was shortlisted by KB Financial Group's chairman selection committee of nine candidates for the bank's chairman position. Also I was asked to give approval to the committee's selection process through checking on the candidates' careers and references," Ha said in a message sent late Monday to the bank's employees.
The CEO said he "agreed to the request and decided to join the process." But he didn't say what brought him to the decision.
Ha's decision comes as surprise as he has successfully served as CEO of Citibank Korea for the past 14 years.
He has no reasons to quit as chief of the U.S. bank branch as it has nearly completed streamlining efforts in Korea by cutting its workforce and integrating outlets since the 2008 financial crisis, a Citibank official said.
Industry people said he will be one of the most competitive candidates to put the Korean bank back on track.
"Ha Yung-ku appears to be a strong candidate because he knows what the banking industry is all about. He stands for changes in banks for survival," an official at KB Kookmin Bank said.
In a recent interview with a local newspaper, Ha said, "The banking industry is going through difficult times due to the increased influence of information and technology companies. KB Financial and other financial firms need to change themselves" to prosper.
After months of internal sparring over the change of an online banking system from the existing main frame system offered by IBM into a Unix-based one, KB Financial Chairman Lim Young-rok was dismissed and KB Kookmin Bank President Lee Kun-ho quit early this month. Internal conflicts had a major impact on consumer confidence in the bank and its operations.
Last week, KB Financial shortlisted the number of candidates to be its new chairman to nine, a list that reportedly included Ha. The bank plans to cut the number in half by mid-October and pick the final candidate by the end of the month.
The eight other candidates are Hwang Young-key, a former chairman of KB Financial; Kim Ki-hong, a former senior executive vice president of KB Kookmin Bank; Kim Ok-chan, a former vice president of KB Kookmin; Yoon Jong-kyu, a former chief financial officer of KB Financial; Lee Dong-gul, a former vice chairman of Shinhan Investment; Ji Dong-hyun, a former vice president of KB Kookmin Card; Yang Seung-woo, chief executive of consulting firm Deloitte Anjin LLC; and Ha.
Lee Chul-hwi, chief executive of the Seoul Shinmun newspaper, was also initially on the short list of candidates but declined the candidacy.
As for the issue of the new chairman also becoming president of KB Kookmin Bank, Ha said, "A person who knows the banking business deserves the chairman's post. So the chairman has good reasons to also serve as president of the flagship unit."
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Ha Yung-ku, |
Citibank Korea Chief Executive Ha Yung-ku said Monday he will seek the job of running the troubled KB Financial Group.
"Last Thursday, I was notified that I was shortlisted by KB Financial Group's chairman selection committee of nine candidates for the bank's chairman position. Also I was asked to give approval to the committee's selection process through checking on the candidates' careers and references," Ha said in a message sent late Monday to the bank's employees.
The CEO said he "agreed to the request and decided to join the process." But he didn't say what brought him to the decision.
Ha's decision comes as surprise as he has successfully served as CEO of Citibank Korea for the past 14 years.
He has no reasons to quit as chief of the U.S. bank branch as it has nearly completed streamlining efforts in Korea by cutting its workforce and integrating outlets since the 2008 financial crisis, a Citibank official said.
Industry people said he will be one of the most competitive candidates to put the Korean bank back on track.
"Ha Yung-ku appears to be a strong candidate because he knows what the banking industry is all about. He stands for changes in banks for survival," an official at KB Kookmin Bank said.
In a recent interview with a local newspaper, Ha said, "The banking industry is going through difficult times due to the increased influence of information and technology companies. KB Financial and other financial firms need to change themselves" to prosper.
After months of internal sparring over the change of an online banking system from the existing main frame system offered by IBM into a Unix-based one, KB Financial Chairman Lim Young-rok was dismissed and KB Kookmin Bank President Lee Kun-ho quit early this month. Internal conflicts had a major impact on consumer confidence in the bank and its operations.
Last week, KB Financial shortlisted the number of candidates to be its new chairman to nine, a list that reportedly included Ha. The bank plans to cut the number in half by mid-October and pick the final candidate by the end of the month.
The eight other candidates are Hwang Young-key, a former chairman of KB Financial; Kim Ki-hong, a former senior executive vice president of KB Kookmin Bank; Kim Ok-chan, a former vice president of KB Kookmin; Yoon Jong-kyu, a former chief financial officer of KB Financial; Lee Dong-gul, a former vice chairman of Shinhan Investment; Ji Dong-hyun, a former vice president of KB Kookmin Card; Yang Seung-woo, chief executive of consulting firm Deloitte Anjin LLC; and Ha.
Lee Chul-hwi, chief executive of the Seoul Shinmun newspaper, was also initially on the short list of candidates but declined the candidacy.
As for the issue of the new chairman also becoming president of KB Kookmin Bank, Ha said, "A person who knows the banking business deserves the chairman's post. So the chairman has good reasons to also serve as president of the flagship unit."
